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Consider a coupon bond with a face value of $1,000, which pays 5.25% (annual) coupons, and will mature in 32 years. The bond is currently
Consider a coupon bond with a face value of $1,000, which pays 5.25% (annual) coupons, and will mature in 32 years. The bond is currently trading at 112.362% of par value. What is the yield-to-maturity (YTM) on the instrument?
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